Imagine stepping into a boardroom as the youngest person and, in many cases, the only woman. The weight of expectations, the strain to prove oneself, and the ongoing necessity to traverse unknown seas. This is the trip Janet Truncale took when she started as an intern at Ernst & Young (EY) over 30 years ago.
Today, as she takes on the post of EY’s Global Chair and CEO—the first woman to manage a Big Four accounting firm—her narrative is more than just one of business achievement. It’s a story of perseverance, mentoring, breaking down obstacles, and paving the way for future leaders.
Janet’s journey to the top was neither preordained nor seamless. She overcame obstacles, confronted prejudices, and made difficult decisions. Throughout it all, she remained true to her values: hard work, diversity, and an unshakeable devotion to greatness.
Early Life: The Development of a Leader
Janet was born in 1970 in New Jersey into a close-knit family that valued education and ethics. Her youth was filled with basic pleasures like family dinners, school projects, and an early interest in mathematics and problem solving.
Janet, a brilliant student, attended Governor Livingston High School and thrived academically. She was not just interested in reading; she also participated in extracurricular activities, polishing her leadership abilities in student organisations. These early experiences shaped her destiny as a leader.
Her interest in finance led her to the famous Wharton School at the University of Pennsylvania, where she obtained a Bachelor of Science in Economics. The intense academic atmosphere at Wharton taught her about the complexities of financial markets and company strategy. She was, however, more than simply another student pursuing grades; she actively participated in conversations, formed connections, and sought real-world applications of her education.
Janet realised the value of continual learning and went on to acquire an MBA at Columbia University, honing her strategic thinking and leadership skills.
Starting with EY: A test of resilience
Janet began working at EY as an intern in 1991, unknowing that she was embarking on a revolutionary adventure. The business world of the early 1990s was a different landscape—male-dominated, hierarchical, and frequently hostile to women in senior positions.
As a young professional, Janet immediately realised she needed to work twice as hard to establish her worth. But she did not back down. Instead, she took on the obstacles, asking questions, seeking guidance, and producing achievements that spoke louder than words.
Her ability to manage complicated financial environments while fostering genuine relationships distinguishes her. She has worked with top-tier Fortune 500 companies for many years, providing assurance and consulting services. She wasn’t simply crunching figures; she was addressing real-world business challenges, gaining the trust of both clients and coworkers.
Climbing the Corporate Ladder: Leading in Action
Janet’s unrelenting pursuit of excellence propelled her through the ranks at EY. She took on more duties, and each one shaped her leadership style.
As the Americas Financial Services Organization’s (FSO) Assurance Managing Partner, she oversaw a team of 3,000 people, focused on improving audit quality and driving strategic development. In this capacity, she was both a leader and a mentor, encouraging young professionals, particularly women, to success.
Her ability to mix technical skills with people-centered leadership gained her acclaim at EY. She recognised that leadership required more than just making difficult decisions; it was also about motivating colleagues, encouraging cooperation, and delivering significant effect.
Janet’s next post was Vice Chair and Regional Managing Partner of the Americas FSO, where she oversaw 14,000 people in 90 offices. She concentrated on creating a financial services market that prioritised trust, customer-centricity, and stability.
A Champion for Diversity, Equity, and Inclusion
Janet has long been a champion for Diversity, Equity, and Inclusion (DE&I). She made it her aim to establish a more inclusive workplace after personally experiencing the difficulties of being a woman in a male-dominated sector.
She led EY’s “Uplift” program and was a significant figure in other social justice efforts. As executive sponsor of the EY US Veterans Network, she worked to create an inclusive atmosphere that honours multiple perspectives.
Janet’s dedication to empowering women extends beyond EY, as she serves as Board Chair for Women’s World Banking, a global NGO dedicated to equipping low-income women with financial skills. Her philosophy is simple yet profound: financial inclusion is more than simply economics; it is about empowerment.
Her participation with UNICEF USA and the Liberty Science Centre demonstrates her commitment to social impact.
Breaking the Glass Ceiling: The First Women to Lead a Big Four Firm
When Janet was elected EY’s Global Chair and CEO, it was more than simply a personal achievement; it was a watershed event for the industry. For decades, males dominated the senior positions in the Big Four corporations. Her appointment represented a change, a breaking through the proverbial glass ceiling.
Janet frequently praises mentoring and representation for her success. She recalls times in her career when witnessing other women in high positions motivated her to advance. Now, she serves as a light of hope for numerous people seeking to advance in their fields.
Her message is clear: talent transcends gender, and leadership is about competence, not conformity.
Vision for the Future: Leading EY into a New Era
As Janet begins her new post, she is committed to ensuring that EY thrives in a constantly changing business context. Technology, digital transformation, and sustainability are at the forefront of her agenda.
She views EY as a business that not only provides world-class professional services but also preserves its commitment to diversity and inclusion, innovation, and ethical leadership.
Her leadership style remains real and approachable. She is more than simply a CEO behind closed doors; she actively connects with employees, listens to their issues, and promotes an inclusive atmosphere.
Balancing Work and Life: A Personal View of Janet
Aside from boardrooms and strategy meetings, Janet is a dedicated wife and mother of three. Balancing a high-profile work and family life has been one of her most difficult yet rewarding tasks.
Her ability to prioritise, keep organised, and be there for her family is something she is really proud of. It demonstrates that success is judged not just by titles and honours, but also by the connections we cultivate and the lives we influence.
Recognition and Legacy
Janet’s contributions to the industry have not been overlooked. She has received several notable accolades, including the Profiles in Diversity Journal Women Worth Watching Award and inclusion on Crain’s New York Business Notable Women in Accounting and Consulting lists in 2019 and 2021.
Her legacy is already being written, not only as a financial pioneer, but also as a leader who altered the narrative of what leadership should entail.
An Inspiration for the Next Generation.
Janet Truncale’s path is one of determination, tenacity, and purpose. From a youthful intern to EY’s Global Chair and CEO, she has defied expectations, busted stereotypes, and inspired numerous professionals along the way.
Her tale is about effect, not simply business achievement. It’s about demonstrating young women that they, too, have a place in boardrooms. It’s about demonstrating that leadership is more than simply power; it’s about serving, mentoring, and making a difference.
As Janet starts on her new journey, one thing is certain: the best is still to come.
Also read: Who Takes Care of the Caretakers? The Burden of Unpaid Work on Women
